Dundee Precious Metals (TSE:DPM) Raised to "Strong-Buy" at Macquarie

Key Points

• Dundee Precious Metals has been upgraded to a "strong-buy" rating by analysts at Macquarie, indicating strong confidence in the stock's future performance.
• Multiple analysts have raised their target prices for the stock, with an average target price now set at C$27.28, reflecting positive sentiment in the market.
• The stock has experienced significant growth, with a current market price of C$30.19, compared to its 1-year low of C$12.30.

Macquarie upgraded shares of Dundee Precious Metals (TSE:DPM - Free Report) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

DPM has been the topic of several other reports. Royal Bank Of Canada boosted their price objective on shares of Dundee Precious Metals from C$24.00 to C$32.00 and gave the stock a "moderate buy" rating in a research report on Wednesday, September 10th. Canaccord Genuity Group boosted their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. BMO Capital Markets set a C$36.00 price objective on shares of Dundee Precious Metals and gave the stock an "outperform" rating in a research report on Friday, September 12th. Stifel Canada upgraded shares of Dundee Precious Metals to a "strong-buy" rating in a research report on Thursday, September 4th. Finally, CIBC boosted their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$27.28.

Dundee Precious Metals Price Performance

Shares of TSE DPM traded up C$0.35 during trading on Wednesday, hitting C$30.54. 8,820,354 shares of the company were exchanged, compared to its average volume of 728,830. The company has a market cap of C$6.78 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.04 and a beta of 0.79. Dundee Precious Metals has a 1 year low of C$12.30 and a 1 year high of C$30.75. The firm's fifty day moving average price is C$25.22 and its 200 day moving average price is C$21.62.

Dundee Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Dundee Precious Metals's dividend payout ratio (DPR) is 11.51%.

Dundee Precious Metals Company Profile

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. The company primarily explores for gold, copper, and silver deposits. It holds a portfolio of projects located in Bulgaria, Namibia, Serbia, and Ecuador.